ACI reports Nov drop in global air traffic Global freight growth dropped dramatically in November according to the latest statistics released by Airports Council International (ACI) from 165 key airports around the world. International freight plummeted by 15.6 per cent and domestic tonnage by 13.1 per cent on average. The year-to-date and the rolling 12-month year periods also registered negative growth compared to the same time period of the previous year leaving only the Middle East with … [Read more...] about ACI reports Nov drop in global air traffic
Carriers
Troubled FlyLAL acquired by Swiss investor
Loss-making FlyLAL Lithuanian Airlines has been purchased by SCH Swiss Capital Holdings for US$1 million plus an agreement to cover debt of some €1 million (US$1.4 million). "We were looking for an airline to purchase, and this is a good company to invest in. FlyLAL can be a very strong regional carrier," SCH CEO Jan Erik Jansson told the Associated Press. The sale will take effect on 23 January. FlyLAL was privatised in 2005 and was held by several Lithuanian investors. It lost LTL8.1 … [Read more...] about Troubled FlyLAL acquired by Swiss investor
Jet Airways in talks to lease aircraft to Oman Air
India's Jet Airways is in talks with Oman Air on commercial cooperation including possible leasing of its aircraft to Oman Air. "We are in talks with Oman Air for commercial cooperation about leasing of aircraft," Saroj K. Datta, executive director of Jet Airways said according to a Times of Oman report. "We have some surplus aircraft and wanted to know whether Oman Air would be interested in leasing them." The announcement is likely to be made in a couple of weeks, Datta said. Jet Airways has … [Read more...] about Jet Airways in talks to lease aircraft to Oman Air
Air China moves to fully acquire cargo division
China's largest carrier, Air China is to purchase the remaining stake in Air China Cargo Co. Ltd, from Capital Airports Holding Company, which holds a 24 per cent share of Air China Cargo, for an estimated 798 million yuan. Air China currently holds a 76 per cent stake in the cargo subsidiary. Air China Cargo was co-established in March 2003 by Air China, Citic Pacific, and Capital Airports Holding Company. Air China originally held 51 per cent stake of Air China Cargo and later bought the 25 … [Read more...] about Air China moves to fully acquire cargo division
China to take delivery of 241 aircraft in ’09
China to take delivery of 241 aircraft in '09 China is set take delivery of 241 new planes this year, 16 of which are delayed orders from 2008, Dow Jones reported. According to the Civil Aviation Administration of China (CAAC) the new aircraft would increase passenger seat capacity by 16 per cent despite the leases on 43 planes expiring this year. … [Read more...] about China to take delivery of 241 aircraft in ’09
BA soon to undertake ‘far-reaching’ restructuring
British Airways will soon announce far-reaching restructuring measures designed to reduce costs and increase efficiency, the carrier said in its in-house weekly newspaper, BA News. "Only through delivering fundamental change can we achieve the small profit we are targeting this year and emerge from the crisis as a strong global player," CFO Keith Williams said, warning that the shakeup will be "far-reaching, reshaping our company from top to bottom." He said BA's biggest challenge will be, … [Read more...] about BA soon to undertake ‘far-reaching’ restructuring
